"Cumberland Deposits 18,172 Ethereum (ETH) to Coinbase... Approximately 95.9 Billion KRW"
Minseung Kang
Summary
- Cumberland reportedly deposited 18,172 Ethereum to Coinbase.
- This amounts to approximately 95.9 billion KRW, potentially impacting the virtual asset market.
- Typically, such large deposits can lead to an increase in selling pressure, triggering short-term volatility.
Virtual asset market-making firm Cumberland has reportedly deposited 18,172 Ethereum (ETH) to Coinbase Institutional.
According to Whale Alert, a cryptocurrency transaction tracking site, at around 23:09 on the 7th, 18,172 Ethereum (ETH) was deposited from a wallet address presumed to be Cumberland's to Coinbase Institutional. This amounts to approximately 66.11 million dollars (about 95.9 billion KRW).
Typically, large-scale coin deposits to exchanges can lead to an increase in selling pressure, which may cause short-term volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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